Fluid Sensors Market Size To Rake USD 28.09 Billion By 2030

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06 Oct 2024

Table of Content

The global fluid sensors market size surpassed USD 16.18 billion in 2022 and it is expected to rake around USD 28.09 billion by 2030, poised to grow at a CAGR of 7.14% during the forecast period 2022 to 2030.

An electrical device known as a fluid sensor is used to monitor or regulate the movement of liquids and gases via pipes and tubes. Fluid sensors may be used with computers and digital interfaces in addition to gauges, which is how they are typically employed with them to output measurements. In addition to other things, they are used to monitor things like pressure, temperature, level control, and the amount of fluid flowing through them. Several sectors, including oil and gas, water and wastewater, chemical, power generation, food and beverage, and automotive, employ fluid sensors.

Report Highlights:

• On the basis of type, the flow sensor segment will have a larger market share in the coming years period, the amount of revenue generated through the use of this product will grow well in the coming year. An electrical device called a flow sensor detects or controls the liquid and gas flow rates in pipelines and tubes. During the forecast period, the flow sensor sub-segment is anticipated to rise due to the growing emphasis on industrial automation. The use of manual measuring techniques for fluid parameters including temperature, fluid pressure, humidity, and fluid acceleration has decreased as measurement technology has advanced in sectors like oil and gas, manufacturing, automotive, chemical, medical, and power generation. The flow sensor sub-segment is expected to increase rapidly as a result of these causes.
• On the basis of end user, the power & utilities segment has the biggest market share in the fluid sensors market during the forecast period. The need for additional electricity and the growth of the power and utilities sub-segment are both being supported by an increase in the number of power-generating facilities and a significant increase in the demand for energy in enterprises as a result of the expanding global population. The usage of fluid sensors in power generation facilities like thermal and hydropower plants offers advantages such as guaranteeing the flow sensor ensures the least amount of emissions. For example, advanced flow meters and a variety of installation choices for flow measuring equipment help monitor the rate of ammonia (NH3) gas emitted from chimneys. Within the predicted time range, these factors are expected to assist the sub-growth category.

Regional Snapshots:

The biggest market share was held by the Asia-Pacific in the fluid sensors market during the forecast period. The market is expanding in the area owing to the rising rate of industrial output in the region's growing and developed nations, including China, India, Japan, and South Korea, which are the main manufacturing hubs for industrial fluid sensors. Additionally, the Asia-Pacific region's rapid economic development, brought on by an increase in per capita income and the development of both private and public industrial infrastructure, has contributed to the high utilization of fluid sensors in the oil and gas, water and wastewater, chemical, food and beverage, automotive, and other sectors, driving the growth of the fluid sensors market.

Fluid Sensors Market Report Scope:

Market Dynamics:

Drivers:

The usage of these sensors in different business verticals would be supported by technological developments in the fluid sensors market. New advancements in wireless transmission technologies provide improved connections between several devices, ensuring fine-grained control over all system parameters. Without any physical touch, field effect sensors have the unusual ability to detect semi-solid substances and fluids. The ability to produce durable sensors that can resist hostile conditions has been made possible by the continual improvements in the electronics and semiconductor industries. The development of intelligent sensors that can adjust to their surroundings and provide extremely accurate readings will aid in the expansion of the fluid sensors industry.

Moreover, the growth of the fluid sensors market will be supported by the need for level sensors across a number of industrial verticals, including the food and beverage and petrochemical sectors for the precise measurement of water level. These sensors regulate and keep an eye on the liquid levels in large tanks and containers. Tank level measurement and leak detection applications include the use of optical level sensors that can identify the interface between immiscible liquids. Government laws that are quite strict in the food and beverage industry are forcing businesses to employ sophisticated level sensors to guarantee product quality, which is driving the fluid sensors market growth.

Restraints:

The significant issue that is anticipated to impede the development of the fluid sensors business is the unreliable and insecure communication connected with wireless fluid sensors. This is mainly seen when a technical issue causes the fluid sensor to provide false or misleading information about any fluid flow. As a result, the usage of fluid sensors is not synchronized. This element may limit the market share expansion for fluid sensors throughout the anticipated timeframe.

Opportunities:

Devices with connections are referred to as the industrial Internet of Things (IIOT). IoT software for industrial applications makes it possible for devices like motors, sensors, wastewater transportation systems, and other machinery to operate in unison. The industrial Internet of things, one of the market trends for fluid sensors, is anticipated to provide advantages like remote access to the device and fluid sensor control by specialists from a distance. When there is a good likelihood that the equipment may fail, the system can anticipate the requirement for sensor maintenance. Operational effectiveness, mass customization, remote diagnostics, and other areas are predicted to increase as a result of these qualities. According to predictions, these elements will expand the range of potential applications for fluid sensors.

Recent Developments:

• In March 2022- Global manufacturing firm Standex announced the purchase of Colorado-based sensor manufacturer Sensor Solutions. This purchase is anticipated to assist Standex in the near future in better meeting the needs of the industrial manufacturing industry.

Major Key Players:

• Schneider Electric
• Robert Bosch GmbH
• Emersion Electric Company
• Texas Instruments
• ABB
• SICK AG
• NXP Semiconductors
• Siemens
• Rockwell Automation
• Honeywell 

Market Segmentation:

By Type

• Flow Sensor
• Level Sensor

By Technology

• Non-contact Sensor
• Contact Sensor

By End User

• Automotive
• Water & Wastewater
• Oil & Gas
• Chemical
• Food & Beverage
• Power & Utilities
• Others

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